Solidify priceSOL

$SOL : Price has pushed above the descending trendline and held up well on the retest from above. That said, the reversal still lacks strong conviction for now. A clean initial five-wave advance would be the first solid confirmation that a local bottom has been established.

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$SOL is currently retesting the previous resistance zone around 129–$130, which now acts as key support. To maintain the current bullish momentum, price ideally needs to hold above this range. So far, the pullback is unfolding in three waves a typical corrective structure. But if price drops below $126.70, it could signal that the recent breakout attempt has failed and the upside move may need more time to develop. $SOL is currently retesting the previous resistance zone around 129–$130, which now acts as key support. To maintain the current bullish momentum, price ideally needs to hold above this range. So far, the pullback is unfolding in three waves a typical corrective structure. But if price drops below $126.70, it could signal that the recent breakout attempt has failed and the upside move may need more time to develop.

Solana Faces Short-Term Bearish Pressure After $130 Rejection Correction or Trend Shift? Solana (SOL) has recently faced a firm rejection near the $130 level, shifting short-term momentum toward the downside. While the pullback may concern momentum traders, current price behavior suggests this move remains corrective within a broader market structure, rather than signaling a confirmed macro trend reversal. 🔍 Technical Structure Breakdown From a technical perspective, SOL’s recent weakness is well-defined: $130 Rejection: Price failed to reclaim the $130 zone, an area that aligns with prior supply and aggressive seller interest. Below-Key Levels: SOL is consolidating below $125, forming a descending trendline on the hourly chart, a classic sign of short-term bearish control. Momentum Indicators: RSI remains below 50, confirming bearish momentum dominance. MACD continues expanding in the bearish zone, indicating weak buyer conviction and limited follow-through on rebounds. Despite this pressure, structure remains orderly — suggesting distribution and correction, not panic selling. 📉 Key Levels to Watch Traders should closely monitor the following zones: Immediate Support: $122 Critical Support: $120 A clean breakdown below $120 significantly increases downside risk. Major Supports Below: $112 $105 On the upside, resistance remains layered and firm: Resistance Zones: $125 → $128 → $130 Each of these levels is likely to attract selling until convincingly reclaimed. 🎯 Market Scenarios Ahead 1. Bearish Continuation A decisive breakdown and close below $120 could accelerate downside momentum, opening the door toward $112, with $105 as a deeper corrective target. 2. Neutral Reset Holding the $120–$122 range would favor sideways consolidation, allowing indicators to reset while maintaining the broader structure. 3. Bullish Invalidation A strong reclaim and sustained hold above $130 would invalidate the short-term bearish thesis and shift momentum back in favor of buyers. 💡 Strategic Takeaway Until SOL reclaims the $130 level, upside moves are likely to face selling pressure. This market environment favors reactive trading over prediction, with risk management defined around key structural levels rather than directional bias. In corrective phases like this, patience matters more than position size. Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. $SOL